$Europe Stock Market Trade of the Week Merck 6 time frame Buy. On March 29 we received a 6 Time frame Ichimoku Buy Email alert for $MRK.D-CHX, Merck for the German $DAX stock market. Here is the email alert received.
Our trading plan only allows us to trade Strategy #4. We will take the trade off the 120m. Below is the 120m chart provided by eSignal.
The 240m has a IMTF™ black square support in the setup zone. Therefore, we will setup for a pull back trade. The shows the entry, initial stop, and preserve mode. The reward/risk is over 4:1 so it fits our money management requirements.
Preserve mode was reached and eventually, the trade was stopped out with over a 3:1 reward/risk.
EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.